december 2009 issn 1993-5366 icab news bulletin · his career with padma oil company limited as...
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MEMBER OF:
International Federation ofAccountants (IFAC)
International AccountingStandards Board (IASB)
South Asian Federation ofAccountants (SAFA)
Confederation of Asianand Pacific Accountants(CAPA)
ISSN 1993-5366December 2009
Monthly News briefing from the Institute of Chartered Accountants of Bangladesh
ICAB News BulletinNo. 242
In This IssueDr Jamal is Elected President-ICAB for 2010
ICAB holds the Meeting of Advisory Committee
Financial Businesss CommunityShould Follow New Spectrumto Achieve Goal, Speakers at Seminar
Meetings and Programmes held in the Month of Dec '09
Aftab is Promoted as EVP & FAD
Yeafesh Osman in ICAB ISLaunching Ceremony
President's Communication -December 2009
Awards ceremony encouragechildren to build up their career,Speakers say at award giving ceremony
Awards Given by ICAB for Best Published Accounts and Reports
ICAB holds its 37th AnnualGeneral Meeting
Dr Jamal Assumes Presidency ofICAB Nasir Accorded Farewell
Admission as Associate
Admission as Fellow
Permission to Form Partnership
Permission on Start Practice
Permission to Train ArticledStudents
Victory Day Observed
Office Bearers of CRC-ICABElected for 2010
New Arrivals in the ICABCentral Library
Library Attendance December 2009
ICAB Awards Recognition to the Brilliant Children of its Employees
A Memorable Moment for theBrilliant Children of ICABEmployees
Mr. Jamaluddin Ahmed,
Ph.D, FCA has been elected
President of the Institute of
Chartered Accountants of
Bangladesh (ICAB) for the
year 2010 by the Council-
ICAB in its meeting held on
29 December 2009. At the
same meeting, Mr. Md. Abdus
Salam FCA, Mr. Md.
Shahjahan Majumder FCA
and Mr. Nasim Anwar FCA
were also elected as Vice
Presidents of the Institute for
the same tenure.
Dr. Jamaluddin Ahmed is an accounting graduate
with honors followed by Masters from Dhaka
University, a PhD (1996) from the Cardiff
Business School, under the University of Wales,
United Kingdom as well as a Fellow of the
Institute of Chartered
Accountants of Bangladesh
(ICAB) and is a council
member of ICAB for the last
nine years. Dr Jamal is
currently Technical Advisor
of South Asian Federation of
Accountants (SAFA) which
is an apex body of SAARC.
Dr Jamal is two times’
elected Treasurer of
Bangladesh Economic
Association and co-author of
the theme paper titled “From
Cash to Accrual Accounting-
Reforming Government Accounting in
Bangladesh” with Professor Abul Barkat-General
Secretary of Bangladesh Economic Association.
Dr Jamal is co-researcher with Professor Abul
Barkat in Rural Electrification and Regional
Dr Jamal is Elected President-ICAB for 2010
Md. Abdus Salam FCA Md. Shahjahan Majumder FCA Nasim Anwar FCAVice President Vice President Vice President
Jamaluddin Ahmed Ph.D, FCAPresident
ICAB News Bulletin No. 242
December - 20092
Energy Co-operation.
Dr Jamal is a Partner of Hoda Vasi
Chowdhury & Co, Charterted
Accountants, which is the associate firm
in Bangladesh of Deloitte & Touche. Dr.
Jamal is engaged in assignments in
Financial, Banking and Energy Sector
industries. Dr Jamal worked as country
specialist in Migrant Remittance
Management. He is involved in DFID
funded Cheque Automation, Automated
Clearing System and in the development
of National Payment System in
Bangladesh. Dr Jamal developed his
specialization in Energy Pricing, and
Energy Accounting and has professional
training in managing the regulatory
commission function amongst numerous
other issues. Dr Jamal is currently
appointed Director of newly Corporatized
Janata Bank Limited and Power Grid
Company of Bangladesh Limited.
Dr Jamal completed his PhD thesis (1996)
on the Adverse Effect of Currency
Devaluation on the Foreign Loan user
Companies of Bangladesh. Over his
professional career, Dr. Jamal has written
copious publications and conducted
numerous research papers on various
aspects. Dr Jamal’s publications include,
Banking Reform in Bangladesh:
Comparison with Best Practices, Fiscal
Policy for Economic Growth, From Cash to
Accrual Accounting-Reforming
Government Accounting in Bangladesh,
Management of Migrant Remittance-What
Shapes and What Shakes, Attracting
Foreign Direct Investment-What Shapes
and What Shakes, Political Economy of
Privatization in Bangladesh-Comparison of
Regimes, Political Economy of Currency
Devaluation-A Comparative Study,
Challenging Corruption- Professional
Accountants at the Crossroad. Dr Jamal is
the writer of Evaluation Report on the
Rupali Bank for preparing information
memorandum for the prospective bidders.
Recently, he completed his research paper
on mobile banking for speedy remittance to
rural Bangladesh, Cost and Pricing of
Remittance-A Comparative Study.
Moreover, Dr Jamal conducted a Study
(2008) on the Mobile Banking in
Afghanistan for the Micro Finance
Transaction funded by the USAID. Dr
Jamal presented paper on Ethics in
Accounting Profession at Jaipur India
(2004), Lahore (2005) and Karachi (2006)
Pakistan, and Dhaka Bangladesh (2007)
under the SAFA banner. As well as being
the vice president of ICAB, he is also a
member of the American Accounting
Association (AAA), the British Accounting
Association (BAA) and the Bangladesh
Economic Association (BEA). His
accolades and reputation has also earned
him the position of Executive Secretary of
the South Asian Federation of Accountants
(SAFA) in 2002.
Mr. Abdus Salam, FCA, FCS obtained
his Bachelor of Honours and Master
Degree in Accounting from the University
of Dhaka in 1975 and 1976 respectively
and qualified as Chartered Accountant
from the Institute of Chartered
Accountants of Bangladesh in 1989 and
became Fellow of the Institute in 1994. He
was awarded Burmah Eastern and BCIC
scholarships to pursue his CA course.
Mr. Salam has been rendering services to
the Institute in various capacities and as a
member of different standing and non-
standing Committees, including the
Technical & Research Committee,
Editorial Board and Review Committee for
Published Accounts & Reports. He was
elected in Dhaka Regional Committee of
the Institute for the term 2000-2002 and
served as the Secretary for the term 2000
and is one of regular Faculty Members of
the Institute. He was also the Technical
Adviser of the IDA Technical Assistance
project for Chartered Accountants titled,
“Development of Accounting and Auditing
Standards in Bangladesh” financed by the
World Bank.
Mr. Salam is a Fellow Member of the
Institute of Chartered Secretaries and
Managers of Bangladesh. He was Vice
President for the term 2005-2006 and the
Treasurer for the term 2004-2005 of the
Institute. He also has been serving as
elected Councilor of the said Institute since
its establishment in 1997.
Mr. Salam in his career served in a number
of government autonomous bodies and
multilateral international development
organizations including Bangladesh Power
Development Board as Additional Director
of Accounts, General Manager Finance in
National Tea Company and as Mission
Team Leader and Consultant/Expert in a
number of projects in the fields of financial
management, auditing and governance
financed by UNDP, ADB, World Bank,
CIDA, DFID, NORAD, SIDA, EC,
DANIDA. He has completed recently a 4-
year assignment as the National Finance
Expert with the Primary Education
Development Programme of The Asian
Development Bank. He is one of the
Members of the Board of Directors and
Independent Director for Audit
Committees of the Board of The Ibn Sina
Pharmaceutical Industry Ltd- a listed
company with the Dhaka and Chittagong
Stock Exchanges.
He is a Charter Member and Best Past
President of the Lions Club of Dhaka
Meghna for the term 1993-94. He is a Life
Member of Dhaka University Accounting
Alumni Association, Dhaka University
Alumni Association, Bangladesh
Economic Association and Bangladesh
Computer Society. He attended various
national and international seminars
/conferences in Australia, Canada, United
Arab Emirates, Saudi Arabia, India and
Thailand.
Mr. Shahjahan Majumder ACEA (UK)
FCA is a professionally qualified
Chartered accountant from the Institute of
Chartered Accountant of Bangladesh
(ICAB). He is also an associate member of
the Association of Cost and Executive
ICAB News Bulletin No. 242
December - 20093
Accountants, UK.After qualifying as
Chartered Accountant in 1989 he started
his career with Padma Oil Company
Limited as Manager, Fund Management
and worked till June,1995.After that he
joined as Financial Controller in world-
renowned Shipping Company P&O
Nedlloyd and served till Sept.2005.During
this long tenure of 10 years service with
P&O Nedlloyd he was assigned with a
number of overseas assignments in Saudi
Arabia, India, UAE and Sri Lanka on
compliance and corporate governance. In
October, 2005 he moved to healthcare
sector and took over as Director Finance of
Apollo Hospitals Dhaka. In 2009 he was
elevated as Chief Operating Officer with
greater responsibilities of financial
administration, business development,
operations, Information technology,
hospitality, supply chain, human resources
and engineering department.
He has in his career a number of advance
training courses. Among others he
completed training on “Advanced
Techniques of Management and Control
"Jointly sponsored by the Institute of
Chartered Accountants of Bangladesh and
The United Nations Development Program
in Bangladesh/United Nations Department
of Technical Co-operation for
Development. He took Computer Training
on “Computerized Accounting thru
standardized Packages” Organized by the
Institute of Cost and Management
Accountants Of Bangladesh at ICL-The
Computers Limited. He participated South
Asia Customer Service Training on May
1998 arranged by P&O Nedlloyd
Ltd.Completed three months training on
MS Office, MS Excel, Power Point and MS
Access.
Mr. Majumder participated in a number of
overseas training on "Operational Cost
Control in MESAF Region" in Bombay in
1996 Organized by P&O Nedlloyd-Middle
East South Asia and East Africa. He
participated CODA users training in
Colombo arranged by P&O Nedlloyd
Ltd.in 1998. He also attended the training
course on Financial Management and DRS
(Documentation and Revenue System) in
Bombay on March 1998 organized by P&O
Nedlloyd- Middle East South Asia and
East Africa (MESAF).Attended Train the
Trainer Road show followed by focal
training arranged by P&O Nedlloyd-
Dubai, UAE.
Mr. Majumder has been serving as the
Director of Board of Governors of Institute
of Internal Auditors, Bangladesh and the
Member Taxation Sub Committee of
Foreign Investors Chamber of Commerce
and Industries (FICCI).
Mr. Nasim Anwar FCA was elected Vice
President, ICAB for the year 2010. He
qualified as Chartered Accountant and was
enrolled with the Institute as an Associate in
1993 and Fellow in 1998. He was Chairman-
CRC in Chittagong Club Ltd. Permanent
Member of Maa-O-Shishu Hospital,
Chittagong and a social worker.
ICAB holds the Meeting of Advisory Committee
Ameeting of the Advisory
Committee of the Council-ICAB
was held on 25 December 2009
at a local hotel under the Chairmanship of
Mr. Zahir Uddin Ahmed FCA, Co-
Chairman, Advisory Committee and Past
President, ICAB.
The following Past Presidents of the
Institute and members of the Advisory
Committee attended the meeting:
Mr. Zahir Uddin Ahmed FCA, Mr. Md.
Jainul Abedin FCA, Mr. A K M
Mosharraf Hossain FCA, Mr. Kamal Ziaul
Islam FCA, Mr. A K M Rafiqul Islam
FCA, Mr. Badrul Ahsan FCA, Mr. Anil
Chandra Nath FCA, Mr. Abbas Uddin
Khan FCA, Mr. Anwaruddin Chowdhury
FCA, Mr. M A Baree FCA, Mr. A K
Gulam Kibria FCA, Mr. Akhtar Sohel
Kasem FCA, Mr. A S M Nayeem FCA,
Mr. M Farhad Hussain FCA, Mr. Md
Mr. Nasir Uddin Ahmed FCA, President-ICAB presided the Advisory Committee meeting.
Humayun Kabir FCA and Mr. Nasir Uddin Ahmed FCA.
Mr. Md. Syful Islam FCA and Mr. Md. Shahadat Hossain FCA both Vice Presidents, ICAB
also attended the meeting.
There was a lively discussion in the meeting regarding the present condition of the
accounting profession of the country and the meeting was of the view that the prestige and
dignity of the profession must be upheld by way of compliance with the accounting and
auditing standards and ethical norms of the profession. The meeting ended with a vote of
thanks to and from the chair.
ICAB News Bulletin No. 242
December - 20094
Financial Business Community Should Follow NewSpectrum to Achieve Goal, Speakers at Seminar
Mr. Murshid Kuli Khan, Deputy Governor, Bangladesh Bank (3rd from left) was present at seminar as Chief Guest. Others are (L-R) Mr. Alamgir Morshed, Mr. Nasir UddinAhmed FCA, Mr. Akhter Sohel Kasem FCA, Mr. Md. Syful Islam FCA and Mr. Md. Shahadat Hossain FCA.
The Institute of Chartered
Accountants of Bangladesh
(ICAB) organized a CPD
Seminar on “The new spectrum for
financial markets and management” on 22
December 2009 at ICAB Auditorium,
Chartered Accountant Bhaban, 100 Kazi
Nazrul Islam Avenue, Kawran Bazar,
Dhaka-1215.
Mr. Murshid Kuli Khan, Deputy
Governor, Bangladesh Bank was the Chief
Guest.
Mr. Akhter Sohel Kasem FCA, Past
President, ICAB conducted the Seminar as
the Session Chairman.
Mr. Alamgir Morshed, Head of Global
Markets, Standard Chartered Bank
presented the keynote paper.
Mr. Nasir Uddin Ahmed FCA, President,
ICAB in his address of welcome said that
Financial Management and Financial
Markets are twin sisters with equal
dimensions concealed in the strategies to
achieve their goals particularly in the
entities of both
developed and
d e v e l o p i n g
countries. Some of
the largest
companies of the
world in the United
States are tottering
with the impact of
global financial crisis because they
couldn’t properly identify, quantify,
monitor and assess the risk and take the
appropriate measures to combat the risk
inherent in a marketing strategies. The
result has become devastating not only for
America but for other parts of the world
particularly developing countries like
Bangladesh. Though Bangladesh has not
been affected that much like other
Countries. Due to the unprecedented
global crisis the growth rate of the world’s
leading economies has just strictly falling
down. Million has become jobless. Due to
severe credit crunch and failure of stock
markets and major financial institutions in
the US, the American government was
compelled to come forward to bell out the
economy on particularly financial
institutions.
Mr. Murshid Kuli
Khan, Deputy
G o v e r n o r ,
Bangladesh Bank
talked about the
ongoing global
recession and said it
was originated from
a speculated bubble
in the real estate sector in the US which
brought a sever downturn in the global
economy. Financial markets came under
heavy stress and changes have been pulling
down the real economy including trade and
commerce, he added.
Mr Khan said this financial crisis can be
attributed to four major factors. The first is
the growth of financial products and
practices, which were sustainable only at
Mr. Nasir U Ahmed FCAPresident-ICAB
Mr. Murshid Kuli KhanChief Guest
ICAB News Bulletin No. 242
that condition of increasing asset price and
investors’ confidence. The second factor is
uncontrolled liquidity creation, which was
not well recognized at the beginning.
Financial engineering has promoted the
growth of liquidity creation techniques
based on collateral lending. The third
factor was the growth of the unregulated
shadow-banking sector involving
investment banks etc and the construction
of complex financial instruments and
techniques, which saw risks spreading
through the global financial sector. The last
factor is the absence of public information
about the risks in the financial system.
Regarding the impact of the crisis on
Bangladesh, Mr Khan said, “We are lucky
that our banking sector has not been
affected by this recent crisis because our
exposures are not that not much widening
and the main origin was the housing
finance in US. Our housing finance is very
limited and negligible. Our bank’s main
priority is not housing, rather we
concentrate more on trade and financing.”
“We are at the door-point of
implementation of Basel-II. It should be
further reviewed because of the financial
crisis. It is an international practice. There
may be changes. Good corporate
governance must be emphasized,” he
added.
Mr. Alamgir
Morshed, Head of
Global Markets,
Standard Chartered
Bank presented the
paper in some scope
like, What went
wrong, the new
order, role of
financial experts &
leaders. He also discussed on Financial
Crisis on Growth, Sub Prime Problems,
Global Effect, Liquidity Crisis, Global
Action etc. His presentation was also based
on the roots of crisis. Mr. Morshed
presented a report on total crisis cost. In
this regard he gave an example of Nobel
Laureate Professor Yunus that, “this
economic crisis suddenly awakens us to the
fact that this system is not working. When
the system is not working that is the best
time to undo it and redo it in a new way.”
Session Chairman
Mr. Akhtar Sohel
Kasem FCA
thanked the paper
presenter who
outlined the
background of
financial recession
and the chief guest
for talking about
various factors which contributed to the
recession and about the role of central bank
in future. At the last phase of the Seminar,
there was a lively floor discussion.
Mr. Md. Shahadat Hossain FCA, Vice
President, ICAB said that the theme of the
seminar is very
relevant and
important for
a c c o u n t a n c y
profession. Mr.
Shahadat thanked
everybody for
active participation
while giving vote of
thanks.
December - 20095
Mr. Alamgir MorshedPresented the Paper
Mr. Md. ShahadatHossain FCAVice President
Date Meetings/Programmes
5.12.09 Council Meeting
Members Services & Welfare Committee (MSWC) Meeting
10.12.09 Examination Committee Meeting
Award Giving Ceremony 2009 for the Brilliant Children of ICAB Members
14.12.09 Information & Communication Technology Committee (ICTC) Meeting
15.12.09 Articled Students Committee (ASC) Meeting
17.12.09 Review Committee for Published Accounts & Reports (RCPAR) Meeting
20.12.09 Board of Studies (BOS) Meeting
23.12.09 Launching of ICAB New Automation of Examination Sysem
24.12.09 Technical Research Committee (TRC) Meeting
25.12.09 Advisory Committee Meeting
26.12.09 Roundtable Conference
Award Giving ceremony 2009 for the Brilliant Children of ICAB Employees
27.12.09 C.A Order & Bye-Laws Committee Meeting
29.12.09 Council Meeting
Annual General Meeting (AGM)
30.12.09 Award Giving Ceremony of ICAB Best Published Accounts & Reports 2008
31.12.09 Handing over and taking over new and Past President
Meetings and Programmes held in the Month of Dec '09
Md. Aftab Uddin Khan FCA
Mr. Md. Aftab Uddin Khan, M.Com,
FCA, FCS, LLB has been promoted as
Executive Vice President (EVP) and Head
of Financial Administration (FAD) of
ONE Bank recently. Mr. Aftab has been
working as Chief Anti Money Laundering
Compliance Officer (CAMLCO) in the
same bank.
Aftab is Promotedas EVP & FAD
Mr. Akhtar Sohel Kasem FCASession Chairman
ICAB News Bulletin No. 242
Launching Ceremony of ICAB
Information Systems was held at
the Institute of Chartered
Accountants of Bangladesh (ICAB) on 23
December 2009 at ICAB auditorium, C.A
Bhaban, Dhaka-1215.
Architect Yeafesh Osman, Hon’ble State
Minister, Ministry of Science and
Information & Communication
Technology, GoB was present as Chief
Guest. Mr. Mustafa Jabbar, President,
Bangladesh Computer Samity was present
the occasion as Special Guest. Mr.
Swadesh Ranjan Saha FCA, Vice
Chairman, Satcom IT Ltd. made a
presentation on the system.
Mr. Nasir Uddin
Ahmed FCA said in
his welcome address,
"The introduction of
ICAB information
system will be in the
helm of a full pledged
computerization in
respect of infor-
mation, data, savings
and recordings of the functioning of the
Institute. Thereby enhancing capacity to
support and ensure highest accuracy of
critical data and information. From now on
we have the technology to store and
maintain the records of ICAB members,
principles, firms, registration of article
students, examination related records with
all required details. We will also be in a
comfortable position to obtain security
support by generating unique barcode for
each script used in professional
examination of the Institute and input the
marks of each script against the associated
barcode and calculate the grade
automatically. The information system
will be provided with a technology of
password protection locking to ensure
highest security and confidentiality."
Ms. Parveen
Mahmud FCA said
that we were
convinced that in
order to move
forward we must
take the help of ICT.
Our vision was to
make Bangladesh
digital in 2021 and ICAB Information
System was a step forward only to a digital
ICAB in the coming days. "Recently
ICAB’s ICT committee has introduced
SMS notification services for the members.
Focusing to establish digital ICAB we will
link every device such as cell phone,
internet, computer, e-learning, e-
governance etc. We have developed ICAB
Information Systems programme to meet
the requirements of all sections of ICAB
secretariat and provide necessary
information to members, students, stake
holders and interested parties in a
transparent way. Considering the priority
initially we developed examination and
article students’ registration section
module" she added.
Swadesh Ranjan
Saha FCA,
demonstrated the
main features of
ICAB information
system with the help
of power point.
Mr. Yeafesh
Osman, State
Minister for Science and ICT said
information technology is the key to
development. He said Digital Bangladesh
should not be only for a certain group of
people or section of society. It should
benefit all.
Welcoming the digitalization at ICAB, he
December - 20096
No Alternative to Technology if we want to ProgressYeafesh Osman in ICAB IS Launching Ceremony
Architect Mr. Yeafesh Osman, Hon’ble State Minister, Ministry of Science and Information & Communication Technology, GoB (centre) was Chief Guest of the ceremonyothers are (L-R) Mr. Swadesh Ranjan Saha FCA, Mr. Mustafa Jabbar, Mr. Nasir Uddin Ahmed FCA, Ms. Parveen Mahmud FCA, Mr. Md. Syful Islam FCA and Mr. Md.Shahadat Hossain FCA.
Mr. Nasir U Ahmed FCAPresident-ICAB
Ms. Parveen Mahmud FCAVice President-ICAB
Swadesh Ranjan Saha FCAPresentation of ICABInformation Systems
ICAB News Bulletin No. 242
said ICAB has gone
one step ahead in the
society by
introducing ICT in
its exam system.
This effort will not
only benefit ICAB,
but also others
concerned.
Describing the benefits of digitalization,
Mr. Osman said use of ICT helps reduce
time of work and increase efficiency of the
job. Therefore, there should not be any
opposition or resistance to introducing new
technology. In this regard, he mentioned
the use of telemedicine that changed the
concept of treatment.
Mr. Osman said everyone in the country
has now realized that there is no alternative
to technology if we want to progress. In
this respect, he stressed the need for
combined use of software, hardware and
human ware.
The state minister said in future Bengali
language will be introduced in mobile
phones which will benefit common people
using cell phones.
Mr. Mustafa
Jabbar thanked
SATCOM for
assisting a renowned
institution like ICAB
to enter the digital
era and appreciated
creative role in the
ICT sector of
Bangladesh.
As one of the founders of Bangladesh
Computer Samity (BCS), Mr. Jabbar
highlighted the activities of BCS. He said
BCS is playing a leading role of flourishing
ICT and popularizing the use of computers
in rural areas through motivation.
BCS also helped 255 trade
associations/bodies of the countries in
introducing ICT and digitalization. As
recognition for the service, BCS has been
given national award.
Mr. Jabbar said the government has
withdrawn all taxes on computer and
accessories following demand of BCS.
Besides, BSC worked on digitalizing the
textbooks of schools.
The present government's slogan for
building a 'digital Bangladesh' was first
brought out by BCS.
The government and BCS have been
working as partners for the last one-year to
fulfill the government's pledge to build a
digital Bangladesh.
The ceremony ended with a vote of thanks.
December - 20097
A section of Audience of Launching Ceremony of ICAB Information Systems.
Mr. Yeafesh OsmanChief Guest
Mustafa JabbarSpecial Guest
Architect Mr. Yeafesh Osman, Hon’ble State Minister, Ministry of Science and Information & Communication Technology, GoB as Chief Guest formally launching the ICABInformation Systems unveiling the CD of the programme.
ICAB News Bulletin No. 242
December - 20098
Dear Esteemed Members, Assalamualaikum, Change is the only thing that is constant. It is this continuity of change —change with the times that has kept our profession in a leading position inIndian sub-continent for decades. As has been well said, ‘continuity givesus roots; change gives us branches, letting us stretch and grow and reachnew heights’. It is time for change at the Institute too — a change of guardat the very top. Yes, this is my last monthly communication to you as thePresident of the Institute, which I started from January this year.
I would now like to touch upon some of the major activities carried outduring my last month of Presidency and would like mention few of theareas, where we need to put efforts to take ICAB and the profession to abetter height.
CPD Seminars: The last CPD seminar of the year was held on the 22nd December 2009. Thetopic of the CPD Seminar was "The Spectrum for Financial Market andManagement”. Mr. Alamgir Murshed, Head of Global Market, StandardChartered Bank, Bangladesh presented the Key Note Paper.
Mr. Murshid Kuli Khan, Deputy Governor, Bangladesh Bank, attended theprogramme as Chief Guest, while Mr Akhter Sohel Kasem, FCA PastPresident & Council Member, ICAB conducted the Seminar as SessionChairman.
A good number of members were present at the seminar. With this seminar,we finished 10 (ten) CPD Seminars at Dhaka and 3 (three) CPD Seminarsat Chittagong. Members, resident at Dhaka received the opportunity ofattending 38 credit hours (including technical sessions of NationalConference) as against 12 hours required. However, our arrangement ofholding CPD Seminars in Chittagong was inadequate to the requirements.
Launching of ICAB Information SystemThe need for a computerized system for ICAB examination process andMembers & Students’ was felt for long time but we could not do much onthis important area of automation until this system was put on operation.The dream of a robust computerized system in the area of examination andmembers/ students’ record was materialized only in this year 2009. I mustappreciate and congratulate all members of the ICT Committee for theirhard work to materialize our long outstanding dream. I also express ourgratitude to SATCOM assisting ICAB in implementation of this InformationSystem.
On the 23rd December 2009, Architect Yeafesh Osman, Honourable StateMinister for Science and Information & Communication Technologyformally launched ICAB Information System at C A Bhaban at a simpleceremony organized by ICAB. Mr Mustafa Jabbar, President, BangladeshComputer Samity (BCS) was present at this programme as Special Guest.Mr Swadesh Ranjan Saha, FCA, Chairman, SATCOM also attended theprogramme and made a presentation on ICAB Information System. Ms.Parveen Mahmud, FCA Chairperson, ICT Committee conducted the sessionas Session Chairman.
A large number of our honourable members attended this programme andshown keen interest in this newly introduced computerized systems.
ICAB ExaminationsICAB examinations for Nov-Dec session started on the 19th December2009, covering all professional examinations i.e PEI, PEII & PEIII. Anincreased number of examinees appeared at these examinations. This is tobe mentioned here that this could be last examinations for PE I examineesas we are switching over to new syllabus from May-June 2010 session,hence this would the last opportunity for PE I examinees to appear undercurrent syllabus.
President, ICAB visited all examination halls in Dhaka Centre to see thesmooth holding of ICAB examinations. He spoke to invigilators, DRCOffice bearers and ICAB officials at Examination Centre on variousexamination issues.
9th National BPA Awards 2008 9Th ICAB national Awards for Best Published Accounts & Reports 2008was held on the 30th December 2009 at Winter Garden of Dhaka SheratonHotel, Dhaka. Honourable Commerce Minister, Mr Muhammad Faruk
Khan, MP was present as Chief Guest and gave away prizes & certificate toall winners. Chairman, Securities Exchange Commission, Mr Ziaul HaqueKhondoker attended the programme as Special Guest. Mr Sheikh A Hafiz,President, SAFA was present at dais as Special Guest. Chairman, SEClaunched the newly published Volume-III of Handbook of BangladeshStandards on Auditing, Assurance and Ethics Pronouncements, as SpecialGuest of this National BPA Awards ceremony. This volume contains 08BAPSs, BSQC 1 and Glossary of Terms.
As many as fifteen organizations were awarded prizes under six categoriesand twenty six organizations were awarded certificate of merit under allthese categories. A noticeable numbers of dignitaries, high corporate &government officials and a good number of ICAB members attended thislast programme of the year 2009. The programme was followed by a granddinner.
Award giving ceremony for brilliant children of ICABmembersICAB in cooperation of Members Services and Welfare Committee(MSWC) organized the Award giving Ceremony for the brilliant children ofour honourable members. ICAB has been holding such programme for longto encourage children of ICAB members for their brilliant results in SSC,HSC, O Level and A Level. Mr Nasir U Ahmed, FCA President, ICAB, MrSheikh A Hafiz, FCA President, SAFA , Dr Abu Sayed Khan, FCAChairman, MSWC, Mr M Shahdat Hossain, FCA Vice President, ICAB andMr N I Chowdhury, FCA Secretary, ICAB were on the dais.
A total of twenty five students were awarded for their brilliant results in therelevant examination. Each of these students was given a crest, books andcertificate as prizes.
Round table discussion at the Prothom Alo OfficeAt the request of Mr Nasir Uddin Ahmed, FCA President, ICAB Mr MotiurRahman, Editor, Prothom Alo organized a Round Table discussion atProthom Alo office on the 26th December 2009. The tropic of thediscussion was, “Role of Chartered Accountants in Economic developmentof Bangladesh and Transparency and Accountability”. A total of five seniorChartered Accountants representing practicing members and members inindustries participated from ICAB side and other renowned personalitiesrepresenting various stakeholders participated in the round table discussion.ICAB members included President, ICAB, Mr Anwaruddin ChowdhuryPast President, Dr Jamaluddin Ahmed, FCA Council Member & Partner,Hoda Vasi Chowdhury & Co., Ms Parveen Mahmud, FCA Council Member& Dy Managing Director, PKSF, Mr Ahsan Parvez, FCA National FinancialController DHL Bangladesh. Mr N I Chowdhury, FCA Secretary, ICAB waspresent. On the other side dignitaries included Dr Mirza Azizul Islam,Former Adviser for Finance, Mr Ziaul Haque Khandoker, Chairman,Securities Exchange Commission, Mr Murshid Kuli Khan, Dy Governor,Bangladesh Bank, Mr Rakibur Rahman, President, Dhaka Stock Exchange,Mr Aminur Rahman, Managing Director, Janata Bank Ltd., Mr Nurul Amin,Managing Director, NCC Bank Ltd. Mr Mahbubur Rahman, President,International Chamber, and Mr Salman F Rahman, President, BangladeshListed Companies Association.
The news and discussions at this round table meeting received very highimportance and was covered in the top page of the Prothom Alo andbusiness page of the Daily Star on the following day. We all were veryhappy to see the coverage that our profession had received through thisround table discussion.
Enhancement of Audit Fees We completed sending the request letters to all Chairmen & ManagingDirectors of all Listed Companies for enhancement of audit fees of theirrespective companies. We also received some feedback form differentcompanies, which were encouraging. We now need to continue chasing allthese companies for implementation of our request through enhancement ofaudit fees at least in Listed Companies. We may seek support of Associationof Listed companies in Bangladesh, for implementation of approved auditfess in Listed Companies.
Victory Day Observed ICAB for the first time formally celebrated Victory Day, on the 16thDecember 2009. Mr Md Shahdat Hossain, FCA Vice President, ICAB led
President's Communication – December 2009
an ICAB team to Jatiyo Smiriti Soudha at Savar and placed flower bouquetas mark of profound respect of ICAB & its members to the martyrs of ourliberation war in 1971. Brilliant children of ICAB employees awardedICAB organized a program on the 26th December to recognize brilliantperformance of children of ICAB employees. This was for the first time thatICAB organized such programme to award brilliant students of ICABemployees. President, ICAB attended the programme as Chief Guest andgave away prizes to awardees. Mr Md Syful Islam, FCA and Mr MdShahdat Hossain, FCA Vice Presidents, ICAB attended this programme. Advisory Committee Meeting heldAdvisory Committee meeting was held on the 25th December 2009 at Topof the Park, Hotel Sheraton as per practice. A good number of PastPresidents, incumbent President, Vice Presidents and Secretary attended themeeting. President, ICAB appraised the Committee about various activitiesof 2009. Many Past Presidents highly appreciated activates carried out in2009 with Particular reference to signing of MoU with ICAEW, 1st timeholding of SAFA BPA Award in Dhaka and various activities of SAFA inDhaka. Participants emphasized holding of Advisory Committee meeting atthe begging of the year. President expressed his gratitude to all PastPresidents for their support and advice through out the year 2009. Themeeting was followed by dinner. 37th Annual General Meeting heldThe 37th Annual General Meeting of ICAB was held on the 29th December2009 under the Chairmanship of Nasir U Ahmed, FCA President ICAB atICAB Auditorium.
Meeting started with Telwat e Quran and one minute silence for the departedsouls of ICAB members, who died in 2009.
A good number of members participated in the discussion on AnnualReport, and Financial Statements and President answered all the questionsraised by various members including few past presidents.
President, Mr Nasir Uddin Ahmed, FAC introduced President Elect for2010 Dr Jamaluddin Ahmed, FCA and three newly elected Vice Presidents,Mr M Abdus Salam, FCA, Mr M Shahjahan Majumder, FCA and Mr NasimAnwar, FCA to members present at the AGM.
President, ICAB, Mr Nasir Uddin Ahmed, FCA made a PowerPointpresentation on activities of 2009 for the members present at the AGM. Handing Over and Taking Over CeremonyAt simple ceremony, Mr Nasir Uddin Ahmed, President ICAB handed overthe office of President ICAB to newly elected President, Dr JamaluddinAhmed, FCA on the 31st December 2009 at ICAB Auditorium.
Out going President requested all employees of ICAB to uphold the imageof the Institute and profession above all personal interest and work withdiligence and sincerity. He assured all cooperation to the incoming Presidentin running the affairs of ICAB and the profession.
Incoming President thanked outgoing President for assurance of his supportand advised all employees to work hard for ICAB and the profession. Outgoing and incoming Vice Presidents were present Other key activities of the month- 17th and 18th Council meetings were held on the 05th and 29th
December 2009, respectively. 17th council meeting dealt with somevery important issues e.g. approval of the ICAB Election, FinancialStatements of ICAB for year ended on the 30th June 2009, fixation ofthe date for AGM and discussion on preparation of the 9th NationalBPA Awards 2008 etc. 18th Council Meeting mainly dealt with electionof President and Vice Presidents for the year 2010.
- 3rd meeting of the Member Services and Welfare Committee was heldon the 05th December 2009 mainly to finalize arrangements for holdingof Awards giving ceremony for the brilliant children of ICAB membersscheduled on the 10th December 2009.
- An urgent meeting of the Examination Committee was held on the 10thDecember 2009, prior to commencement of Nov-Dec ICABexaminations. The meeting was urgently called to deal with importantexamination related issues.
- A meeting of the Information and Communication Technology washeld on the 14th December 2009, to review smooth functioning ofICAB Information System and to review last minutes preparation oflaunching ceremony of ICAB Information System scheduled on the23rd December 2009.
- Articled Students Committee held its last meeting of the year on the15th December 2009, to dispose of all issues left out for the year 2009.
- RCPRC held its 5th meeting of the year on the 17th December 2009, toreview preparation and all arrangements for holding 9th ICAB NationalBPA Awards 2008 ceremony on the 30th December 2009.
- A meeting of the Board of Studies was held on the 20th December 2009to discuss on its regular issues and decisions taken thereon.
- 11th Executive Meeting was held on the 21st December 2009 todispose off all pending issues of the year before the current Presidenthands over the office of the President to the newly elected President.Agendas of the meeting included Admission as Associate & Fellowmembers, permission to start practice, approval for purchase of officeequipment and other Capex items, approval of new rent rates for CRCoffice and new office for BCACP.
ConclusionI Bid Adieu… Friends, as I prepare to pass the baton of ICAB leadership on to mysuccessor, I can modestly say that many of my initiatives have borne fruitor will give in future. You will, I hope, agree that ICAB is today a moreorganized, energetic and futuristic organization. I am happy to recall thatduring the year when I had the privilege of leading the onward march ofICAB, it has not only grown better placed but has also paved the way for abrighter tomorrow for the profession through entering into MoU withICAEW. When I took over the reins of the ICAB, I had a mission within the ultimatevision of excellence and I am proud to say that we have accomplished mostof that mission. ICAB has hit several milestones and overcome severalchallenges with the spirit of a true partner in nation building. Dear Members, Ihave tried my best to go faster, and have tried to speed things up.
I believe that with every rising sun, you rejoice at a journey that has begun.And with every setting sun, you rejoice at the victories that you haveachieved and the paths that you paved for victories the next day. We haveindeed come a long way, but I must admit that I have not been able toaccomplish as much as I wanted to. There are still miles to go, still manymore promises to keep. As such, these accomplishments cannot be final.The pursuit of ultimate excellence is an ever-going journey for the Instituteand the profession. I am sure my successors with their better capabilities,will not only finish the unfinished agenda but also take up new ones, set newgoals, make fresh starts in newer areas and achieve newer milestones intimes to come.
My dear esteemed members, all this would not have been possible withoutthe active support of my colleagues in the Council, Regional Committees,foreign chapters and officers and staff of ICAB, who extended their all outsupport to all activities of ICAB during 2009. I humbly and sincerely thankall of them. I also express my gratitude towards past presidents and otherwell wishers for their encouragement and support.
As I sign off as President of ICAB, I feel overwhelmed by the affectionshowered on me and the confidence reposed by all of you in me. This hasbeen the source of my strength, inspiration and has energized me to workaggressively for the cause of the profession, in spite of my tremendous jobpressures at my service in a British Multinational Company. And it hasearned for me a unique relationship with all of you and with all our students,something that I will cherish for the rest of my life.
While concluding this month’s communication, first of all I express mygratitude to Almighty Allah for His help and “Rahmat” that He showered onme, my Institute and all members, which made me enable to discharge myresponsibilities successfully in 2009. My parents’ “Doa” have always beenwith me, which have kept me going ahead defying all barriers.
Once again I express my personal gratitude to all past Presidents, membersof Council, DRC, CRC and esteemed members of the profession for theirfullest cooperation, support and assistance in discharging myresponsibilities as your leader for 2009. At the end of this communication,I would like to reemphasize that I shall remain dedicated to my Institute andmy profession, till the last day of my life. Please pray for my good health and long life, so that I can serve ICAB andthe profession in a better way at any capacity in future inshaAllah. AllahHafez.
ICAB News Bulletin No. 242
December - 20099
Nasir U Ahmed FCA
ICAB News Bulletin No. 242
December - 200910
Awards ceremony encourage children to build up theircareer, Speakers say at award giving ceremony
The Members’ Services and
Welfare Committee (MSWC) of
Council under the Chairmanship
of Dr. Abu Sayed Khan FCA, Member
Council, ICAB organized an award giving
ceremony for the meritorious children of
ICAB Members for their brilliant results in
SSC, HSC, ‘O’ Level, ‘A’ Level
examinations in the year 2009 on 10
December 2009 at the ICAB Auditorium,
CA Bhaban, Dhaka.
Mr. Nasir Uddin Ahmed FCA, President,
ICAB in his address said, “the objective of
this Ceremony is to encourage them to
continue their sincere effort and to do even
better in their future endeavors. It will also
create awareness among them about the
activities of ICAB and help them to choose
their profession in future. This will also
encourage other children of our honourable
members to follow their path to be
recognized by ICAB in this befitting
manner”.
Dr. Abu Sayed Khan FCA, Chairman,
MSWC in his welcome address said that
ICAB had been giving such awards since
2004 and had already awarded 104 brilliant
children so far. This year 25 brilliant
children had been selected for the Award.
ICAB believed that this ceremony would
also create fellow feelings among the
children and spouses of the honourable
members of ICAB.
The following children of the Members of
the Institute were awarded for their
outstanding results in four categories:
From SSC Level: Ms. Noshin Tasneem,
daughter of Mr. Md. Abu Bakar FCA, Ms.
Samia Ruponti, daughter of Mr. A. T. M
Rashiduzzaman FCA, Ms. Jannatun
Nayema, daughter of Mr. Md. Abdul Majid
FCA, Ms. Tasnim Kibria Aurpa, daughter
of Mr. Abu Syed Golam Kibria FCA,
Master Md. Rayhan Habib, son of A K M
Rahmat Ullah FCA, Ms. Lutfun Nessa
Lata, daughter of Mr. Amin Ahmed FCA,
Master Sarder Kanak-A-Tasnem, son of
Mr. Md. Abdul Haque Sarder ACA, Ms.
Tauhida Kabir Esha, daughter of Mr.
Enamul Kabir FCA, Ms. Nabila Musharrat,
daughter of Mr. Md. Iqbal Chowdhury
FCA from HSC Level: Ms. Muna Nur Al
Chowdhury and Ms. Marwa Nur Al
Chowdhury, daughters of Mr. N I
Chowdhury FCA, Master A H M Belal
Chowdhury, son of Mr. Md. Liaquat
Hossain Chowdhury FCA, Ms Mumtahina
Afroj, daughter of Mr. Md. Shah Alam
Mridha FCA Ms. Sabrina Jannath,
daughter of Shahjahan Majumder FCA,
Ms. Maeesha Shahla Mridha, daughter of
Mr. Mosharraf Hossain Mridha ACA, Ms.
Sumaiya Ashraf, daughter of Mr. Md.
Ashraf Hossain Mondal, from O Level
category: Master Rashik Amin, son of Mr.
Md. Ruhul Amin FCA, Ms. Marzana
Ferdous Chowdhury, daughter of Mr.
Masih Malik Chowdhury FCA, Master
Arnab Chakraborty, son of Dr. Kalyan
Krishna Chakraborty FCA, Ms. Ornila
Khan, daughter of Mr. Badrul Haque Khan
FCA, Master. Arij Ayman, son of Mr.
Muhammed Abul Hashem ACA and from
A Level category: Master Tahsin Reza
Abrar, son of Mr. Md. Habibullah FCA,
Master Tridib Kumar Saha, son of Mr.
Swadesh Ranjan Saha FCA, Master M.
Marif Hasnain Safin, son of A S M Hossain
Tayiab ACA and Master Asif Zaki
Chowdhury.
Awardees are seen with office bearers, members of MSWC and Secretary-ICAB.
ICAB News Bulletin No. 242
December - 200911
The Institute of Chartered
Accountants of Bangladesh
(ICAB) the regulatory body of the
Accountancy Profession in the country
through its Review Committee For
Published Accounts and Reports (RCPAR)
evaluated the published accounts and
financial statements of the listed
companies and NGOs/MFIs who
participated in the 9th ICAB National
Awards For Best Published Accounts and
Reports 2008 Competition. The Published
Accounts and Reports of the listed
companies, NGOs/MFIs and Public Sector
Entities were evaluated by RCPAR-ICAB
under guidelines and criteria set by the
South Asian Federation of Accountants
(SAFA).
In a ceremonial function organized by
ICAB in a local Hotel Mr. Nasir Uddin
Ahmed FCA, President-ICAB in his
address of welcome commented that since
establishment in 1973 ICAB has been
relentlessly trying to promote the
accountancy profession in Bangladesh and
as a result the number of qualified
accountants has increased substantially. He
said that ICAB’s objective is to create
awareness in the corporate sector about the
value of timely publishing the audited
financial statements as well as adequate
disclosure of the financial and non-
financial information. ICAB believes
disclosure of information in time will
ultimately establish better transparency and
accountability in the corporate world and
ensure the efficient use of resources and
bring success to the business and thereby
safeguard the interests of the stakeholders
in the long run. The ICAB BPA Awards is
also expected to help improve the level of
harmonization of Accounting and
Financial Reporting Standards in
Bangladesh with IFRSs and ISAs and
thereby attract foreign direct investment in
the country.
Mr. Muhammad Faruk Khan MP in his
speech as Chief Guest highly appreciated
the evaluation process of ICAB of the
Published Accounts and Reports and hoped
that this will have a positive impact in
bringing about transparency, accountability
and good governance among the entities.
He said that ICAB is regularly doing the
job for awarding prizes to the listed
companies in the Financial, Non-Financial,
Manufacturing, Communication &
Information Technology, Non-
governmental Organizations and Public
Sector Entities Categories after meticulous
evaluation on the basis of stringent criteria
and South Asian Federation of
Accountants (SAFA) guidelines
Mr. Md. Ziaul Haque Khondker,
Chairman, SEC in his speech as Special
Guest stressed on the application and
compliance of accounting and auditing
standards in the preparation of financial
statements. He also said that this annual
event inspire greater transparency and
better disclosure adhering to globally
accepted best practices as well as to sound
corporate governance principles. The
committee tasked with selecting best
published accounts and reports applied
prudence and wisdom in picking the
winners.
As a Special Guest Mr. Sheikh A. Hafiz
Awards Given by ICAB for Best Published Accounts and Reports
Honourable Chief Guest, Special Guests, ICAB office bearers and Chairman, RCPAR are seen in the picture with the Awardees.
ICAB News Bulletin No. 242
December - 200912
FCA said that this Award is an appreciation of excellence and
encourages organizations to aspire for future awards by raising the
quality of their financial reports. It is important to understand that
the Awards symbolize ICAB’s recognition and reward for
organizations which have achieved excellence in presentation and
disclosure of high quality, relevant, reliable and objectively
comparable financial statements, particularly within the IAS/IFRS
framework. I sincerely hope that this Award continues to achieve its
objectives.
Mr. Anwaruddin Chowdhury FCA, Chairman, Review
Committee for Best Published Accounts and Reports of ICAB
(RCPAR) presided over the function. In his speech Mr. Chowdhury
narrated the scenario of published accounts and reports in the
SAARC region. “I would like to make it clear that these awards are
not performance award. The awardees are not necessarily the best
performing companies in their respective sectors. Their disclosures
and presentations of the stakeholders’ information particularly on
performances and prospects of their operations and corporate
governance were better than others; disclosures were, in some
cases, beyond statutory requirements. In addition they have
complied with BASs and BFRSs. They have disclosed their
strategies and core values specifically to achieve their
visions/missions.
The winner companies published the annual reports precisely
‘within time’ and held their AGM within a specified time for the
interest of the stakeholders. They disclosed about their efforts on
CSR activities within which they operate and their contribution to
the national exchequer.
The awards therefore are a recognition for the publicly disclosed
financial and other corporate information and do not in any way
represent any attestation by the ICAB for the operational
performance, financial position, capital adequacy and liquidity
status of the companies, for decision making by lenders, investors
or any other interested parties. He thanked the organizations that
participated in the competition of Best Published Accounts &
Reports-2008, said Mr Anwar.
FINANCIAL SECTOR – BANKING Category
Prime Bank Limited First
Dutch-Bangla Bank Limited Second
Eastern Bank Limited Third
Mercantile Bank Limited Certificate of Merit
National Bank Limited "
Dhaka Bank Limited "
BRAC Bank Limited "
Southeast Bank Limited "
AB Bank Limited "
Islami Bank Limited "
Bank Asia Limited "
Pubali Bank Limited "
Premier Bank Limited "
One Bank Limited "
Shahjalal Islami Bank Limited "
FINANCIAL SECTOR - NON BANKING Category
Prime Finance & Investment Limited First
LankaBangla Finance Limited Second
Green Delta Insurance Co. Limited Third
Phoenix Insurance Co. Limited Certificate of Merit
International Leasing Co. Limited "
NON FINANCIAL SECTOR-MANUFACTURING Category
Singer Bangladesh Limited First
GlaxoSmithKline Bangladesh Ltd. Second
Berger Paints Bangladesh Limited Third
British American Tobacco Bangladesh Certificate of Merit
Renata Limited "
Square Pharmaceuticals Ltd. Bangladesh "
Reckitt-Benckiser "
Advanced Chemical Industries Limited (ACI) "
PRAN-RFL GROUP "
Beximco Pharma "
Bangladesh Lamps "
Padma Oil "
BOC BD "
COMMUNUCATION AND INFORMATION
TECHNOLOGY
Bangladesh Online Limited Certificate of Merit
NGO/MFIs
BRAC First
BURO Bangladesh Second
SAJIDA Foundation Third
Uddipan Certificate of Merit
PUBLIC SECTOR ENTITIES Catetory
Agrani Bank Limited First
Palli Karma-Sahayak Foundation (PKSF) Second
Investment Corporation of Bangladesh (ICB) Third
The list of the awardees are given below:
ICAB News Bulletin No. 242
December - 200913
The 37th Annual General
Meeting (AGM) of the Institute
of Chartered Accountants of
Bangladesh (ICAB) was held on 29
December 2009 under the chairmanship
of outgoing President Mr. Nasir Uddin
Ahmed FCA at ICAB Auditorium.
At the beginning, the meeting paid rich
tributes to the departed soul of late
Mohammad Saifur Rahman FCA,
former President of ICAB and illustrious
Finance Minister of the country,
Mohammed Ali FCA (263), Syedur
Rahman Osmani FCA (237), ABM
Abdur Rob Hawladar FCA, Shamsul
Alam and Md. Atahar Ali who expired in
the year 2009. The house prayed for the
salvation of the departed souls.
The meeting considered and approved
the annual report, auditors report,
financial statements 2008-2009 after
discussion by the members and answered
their questions by the President.
The meeting also approved the proposal
to appoint Mr. Enamul Kabir FCA (280)
and Mr. Abdul Momin Khan Lohani
FCA (575) as auditors of the Institute for
the year 2009-2010.
The outgoing President Mr. Nasir Uddin
Ahmed FCA introduced the newly
elected office bearers of the ICAB 2009.
The office bearers of 2010 are Mr.
Jamaluddin Ahmed Ph.D, FCA,
President, Mr. Md. Abdus Salam FCA,
Mr. Md. Shahjahan Majumder FCA and
Mr. Nasim Anwar FCA, Vice-Presidents,
ICAB.
In his speech the outgoing President Mr.
Nasir Uddin Ahmed FCA thanked the
members and employees of the Institute
and expressed his gratitude to them for
extending cooperation and giving him
valuable advices, suggestions and
guidelines while discharging his
responsibility as President-ICAB during
his tenure.The newly elected President Mr.Jamaluddin Ahmed Ph.D, FCA alsothanked all the honourable councilorsand members of the Institute forextending their support to him andelecting him President, ICAB for 2010.He sought cooperation from all to enablehim discharge his responsibilities topromote the interest of the Institute andthe profession.
ICAB holds its 37th Annual General Meeting
Outgoing President Mr. Nasir Uddin Ahmed FCA introduces New office bearers for the year 2010 in 37th Annual General Meeting (AGM).
A section of Audience of 37th Annual General Meetng.
ICAB News Bulletin No. 242
December - 200914
On 31 December 2009 Mr. Nasir
Uddin Ahmed FCA, President,
ICAB for 2009 formally handed
over the responsibility of the presidency of
the Institute to Mr. Jamaluddin Ahmed
Ph.D, FCA, President-elect for the year
2010 in a simple ceremony organized by
the Institute. The Secretary thanked both
the outgoing and incoming Presidents and
expected that 2010 will be another
successful year like 2009.
Immediate Past President Mr. Nasir Uddin
Ahmed FCA requested all employees of
ICAB to uphold the image of the Institute
above all personal interest and work with
diligence and sincerity. He stressed upon
all employees to devote to safeguard the
interest of the Institute. The function was
addressed by Mr. N I Chowdhury FCA,
Secretary, ICAB on behalf of ICAB
officers and staff.
The Secretary, ICAB in his respective speech
highlighted the achievements made during
the tenure of the outgoing President and
praised his sincere efforts and contributions
in upholding the honour and prestige of the
Institute both at home and abroad.
Dr Jamal Assumes Presidency of ICABNasir Accorded Farewell
Outgoing President Mr. Nasir Uddin Ahmed FCA delivering his speech regarding his farewell and reception of incoming President.
Dr Jamaluddin Ahmed FCA, President-ICAB photographed with office bearers of the Institute and Past Presidents and Vice-Presidents. Secretary and other employees ofICAB are also seen in the photograph.
ICAB News Bulletin No. 242
December - 200915
Admission as AssociateThe following members have been admitted as Associate of theInstitute with effect from the dates mentioned against their names:
Name Effective DateMr. Mukit Ahmed ACA (1137) 20 August 2009Deputy ManagerReporting, Finance DivisionGrameenphone Ltd.Celebration PointPlot # 3&5, Road # 113/AGulshan-2, Dhaka
Mr. Mohammad Fuad Uddin Khan ACA (1138) 23 August 2009Manager (Finance)Equity Property Management Pvt. Ltd."MANASHI"1094/1196, O.R. Nizam Road, Chittagong
Mr. Chitta Ranjan Halder ACA (1139) 01 October 2009ManagerACNABINChartered AccountantsBSRS Bhaban (13th floor)12, Kawran Bazar, Com. AreaDhaka-1215
Mr. Muhammad Mahbubur Rahman Bhuiyan ACA (1140) 06 October 2009Manager (A&F)Abul Khair GroupD.T. RoadPahartali, Chittagong
Mr. Abu Sufian ACA (1141) 06 October 2009Manager (A&F)Abul Khair GroupD.T. RoadPahartali, Chittagong
Mr. Abdullah-Al-Mamun ACA (1142) 07 October 2009Manager (Audit & Consultancy)ACNABINChartered AccountantsBSRS Bhaban (13th Floor)12, Kawran Bazar Com. AreaDhaka-1215
Mr. Mohammad Moniruzzaman ACA (1143) 08 October 2009C/o. Rahman Rahman HuqChartered Accountants9, Mohakhali Com. Area (11th & 12th Floors)Dhaka-1212
Mr. Md. Shahariar Ahmed ACA (1144) 13 October 2009Assistant ManagerRahman Rahman HuqChartered Accountants9, Mohakhali Com. Area (11th & 12th Floors)Dhaka-1212
Name Effective Date
Mr. Mohammad Khaled Mansur ACA (1145) 13 October 2009Assistant ManagerRahman Rahman HuqChartered Accountants9, Mohakhali Com. Area (11th & 12th Floors)Dhaka-1212
Mr. Subhash Chandra Das ACA (1146) 25 October 2009Deputy DirectorBangladesh BankHead OfficeMotijheel Com. Area, Dhaka-1000
Mr. Md. Jasim Uddin ACA (1147) 03 November 2009Manager (Accounts)The IBN SINA Pharmaceutical Industries Ltd.House # 41, Road # 10/ADhanmondi R/A, Dhaka-1209
Mr. Ridwan Baree ACA (1148) 21 December 2009C/o. Mr. M A Baree FCAPartnerHoda Vasi Chowdhury & Co.Chartered Accountants (8th Level)7-9, Kawran Bazar, Dhaka-1215
The following members have been permitted to form Partnershipunder the name & style and effective date as mentioned below:Names Effective DateMr. A.S.M Ataul Karim FCA (66) 21 December 2009Mr. Mohammad Aslam ACA (859)Under the name & style ofM/s. Mohammad Ata Aslam & Co.,Chartered Accountants87, Purana Paltan Line (7th Floor)Dhaka
Permission to Form Partnership
Admission as FellowThe following members have been admitted as Fellow of theInstitute with effect from the date mentioned against their names:
Name Effective Date
Mr. MQM Lutful Baki FCA (749) 21 December 2009224, Canterbury RoadHeathmont, Vic-3135Australia
Mr. Mohammed Tofazzul Hussain FCA (848) 21 December 2009PartnerA.Qasem & Co.Chartered AccountantsSouthland Centre (3rd Floor)5, Agrabad Com. Area, Chittagong
Mr. Mohammed Jashim Uddin FCA (863) 21 December 2009Deputy General Manager (Accounts)The Daily Prothom Alo100, Kazi Nazrul Islam AvenueKawran Bazar, Dhaka-1215
ICAB News Bulletin No. 242
December - 200916
The following members have been granted permission to trainArticled Students with effect from the dates as shown against theirnames:
Name Effective Date
Mr. Md. Abdul Haque Sarder ACA (878) 9 November 2009ProprietorMASH HaqueChartered Accountants821,West Kazi ParaMirpur, Dhaka-1216
Mr. Kamran Idris Choudhury FCA (369) 9 November 2009PartnerA. Qasem & Co.,Chartered AccountantsGulshan Pink City, Suites # 01-03Level-7, Plot # 15, Road # 103Gulshan Avenue, Dhaka-1212
Mr. Sultan Ahmed FCA (429) 15 December 2009PartnerAhmed Zaker & Co.Chartered Accountants304, Sk. Mujib RoadAgrabad C/AChitagong
Mr. AKM Mohitul Haq FCA (458) 15 December 2009PartnerAhmed Zaker & Co.Chartered Accountants40, Shaheed Sayed Nazrul Islam SaraniBijoy Nagar, Kakrail, Dhaka
Permission to Train Articled Students
Victory Day Observed
An ICAB team led by Mr. Md. Shahadat Hossain FCA, Vice President-ICAB visited Jatiyo Smriti Southa at Savar and paid profound respects to the martyrs of 1971.
Permission to Start PracticeThe following members have been granted permission to StartPractice as Public Accountant as partner with effect from the dateas shown against their names:
Name Effective Date
Mr. A.S.M Ataul Karim FCA (66) 21 December 2009PartnerMohammad Ata Aslam & Co.Chartered Accountants87, Purana Paltan Line (7th Floor)Dhaka
Mr. Mohammad Solaiman FCA (161) 21 December 2009ProprietorM. Solaiman & Co.Chartered Accountants522, Sheikh Mujib Road (3rd Floor)Agrabad C/A, Chittagong
Mr. Mohammad Aslam ACA (859) 21 December 2009PartnerMohammad Ata Aslam & Co.Chartered Accountants87, Purana Paltan Line (7th Floor)Dhaka
Mr. Md. Jahidul Islam ACA (1008) 21 December 2009ProprietorIslam Jahid & Co.Chartered Accountants128/1, East Tejturi Bazar (2nd Floor)Kawran Bazar, Dhaka-1215
ICAB News Bulletin No. 242
December - 200917
Mr. Gopal Bijoy Singh FCA was
born in the year 1951 at Anowara
in Chittagong. He is a Fellow Member of
the Institute of Chartered Accountants of
Bangladesh (ICAB). He qualified as
Chartered Accountant in 1992. He obtained
his Honours in Commerce from Govt.
College of Commerce, Chittagong and
Masters in Accounting from University of
Chittagong, Chittagong.
He served work in various financial
organizations in the fields of Accounts,
Audit, Income Tax, VAT, Formation of
Company and legal advisor at Government,
Autonomous organization as well as
various NGO sectors .
He is a Resident Partner of Mohammad
Shahidullah & Co. Chartered Accountants
at Chittagong and completed the various
assignments under the Ministry of Jute &
Textile Industries, Fisheries & Livestock,
Petroleum and Mineral Resources from
1992 to till now.
Mr. Sarwar Uddin FCA was born in 1961
at Dagonbhuiyans, Feni. He completed his
graduation from Govt. College of
Commerce, Chittagong and MBA from
USTC, Chittagong. He is a Fellow Member
of the Institute of Chartered Accountants of
Banglades (ICAB).
He qualified as Chartered Accountant in
2000. He served in various companies in
the fields of Accounts, Audit, Finance and
Tax. For various professional works, he has
visited in various countries of the world.
At present he is a Senior Partner of Habib
Sarwar & Co., Chartered Accountants,
Chittagong.
Office Bearers of CRC-ICAB Elected
for 2010Mr Gopal Bijoy Sing FCA was elected Chairman and Mr
Sarwar Uddin FCA Honorary Secretary of the Chittagong
Regional Committee-ICAB for the year 2010.
The other members of CRC are Md. Shaifur Rahman
Mazumder FCA, Mr. Subrata Kumar Bhowmick FCA and Mr.
Abdul Awal FCA.
Mr Gopal Bijoy Sing FCAChairman
Md. Shaifur Rahman Mazumder FCAMember
Mr. Subrata Kumar Bhowmick FCAMember
Mr. Abdul Awal FCAMember
Mr Sarwar Uddin FCA Honorary Secretary
New Arrivals in the ICAB Central LibrarySI. # Author/Publisher Title
01. IASB International Financial Reporting Standards IFRS 2009
02. ICAB Study Manual on Assurance for CAProfessional Stage Knowledge Level
03. ICAB Study Manual on Management Information for CA Professional Stage Knowledge Level
04. ICAB Study Manual on Business and Finance for CA Professional Stage Knowledge Leel
05. ICAB Study Manual on Accounting for CA Professional Stage Knowledge Leel
ICAB News Bulletin No. 242
December - 200918
Sl. # Name of Firm Total1 A. B. Saha & Co. 52 ABBAS KHAN & Co. 33 A Hoque & Co. 124 A K Azad & Co. 215 A K Deb & Co. 16 A Mannan & Co. 137 A Matin & Co. 418 A Qasem & Co. 919 A T Talukder & Co. 010 A Wahab & Co. 4511 ACNABIN 26812 Aftab Ahmed & Co. 1413 Ahmad & Akhtar 1414 Ahmed Khan & Co. 3715 Ahmed Mashuque & Co. 5316 Ahmed Shahid & Co. 3217 Ahmed Zaker & Co. 1118 Ahsan Ataul Azim & Co. 019 Ahsan Kamal Sadeq & Co. 3120 Ahsan Manzur & Co. 1121 Ahsan Rashid & Co. 1322 Ahsan Zamir & Co. 823 Aktar Amir & Co. 324 Alamgir & Idris 525 Alam Chowdhury Mostafa & Co. 2926 Ali Zahir & Co. 127 AMAL & LEENA 128 Andrew Gomes & Co. 029 Anisur Rahman & Co. 1130 Anwar Ahmed & Co. 831 Asad Zaman & Co. 1132 Ashraf Uddin & Co. 1933 Ashraful Haque Nabi & Co. 1134 Ata Khan & Co. 3435 Atik & Wahid 936 Atik Khaled & Co. 2737 Ayub & Mahmood 638 Aziz Halim Khair Chowdhury 13739 Azad Abul Kalam & Co. 740 B Alam & Co. 441 Baree Pear Shafiq Khan 1342 Basu Banerjee Nath & Co. 2343 Bokhteyar Humayun & Co. 044 C M Alam 345 Chowdhury Bhattacharjee & Co. 3046 Chowdhury Hossain Rashid & Co. 2647 Das Chowdhury Dutta & Co. 1948 Dewan Nazrul Islam & Co. 049 DHAR & Co. 950 Fazlul Hoque & Co. 051 G Biswas & Co. 23
Sl. # Name of Firm Total52 G Kabir & Co. 4853 G Mostafa & Co. 554 G Nabi & Co. 1055 Habib Sarwar & Co. 256 Hafiz Ahmed & Co. 1557 Haque Shahalam Mansur & Co. 2558 Hoda Vasi Chowdhury & Co. 29559 Hossen Delwar & Co. 060 Howladar Yunus & Co. 2561 Huda & Co. 762 Huda Hossain & Co. 3463 Hussain Farhad & Co. 1464 Irshadullah Patwary & Co. 265 Islam Aftab Kamrul & Co. 5766 Islam Quazi Shafique & Co. 1167 J R Chowdhury & Co. 1468 J U Ahmed & Co. 2569 K B Newaz & Co. 2470 K M Alam & Co. 2071 K M Hassan & Co. 7172 Kanchi Lal Das & Co. 273 Kazi Zahir Khan & Co. 2774 Khaja Shiraj & Co. 975 Khaleque Jamal Halder & Co. 2976 Khan Ayub 477 Khan Wahab Shafique Rahman & Co. 5778 M A Fazal & Co. 1679 M A Hussain & Co. 780 M A Malek Siddiqul Wali & Co. 481 M A Quader Kabir & Co. 482 M A Taleb & Co. 383 M A Zaman & Co. 3984 M Abdus Salam & Co. 885 M Ahmed & Co. 1486 M Hafiz & Co. 2287 M I Chowdhury & Co. 3388 M J Abedin & Co. 3089 M M Hossain & Co. 2990 M M Rahman & Co. 1991 M N Islam & Co. 6692 Mowla Mohmmad & Co. 893 M R Khan & Co. 2694 M Ruhul Amin & Co. 495 M Huque & Co. 696 M Z Islam & Co. 297 Mahbub Mohsin & Co. 1298 Mahfel Huq & Co. 1499 Mandal & Co. 14100 MARHK & Co. 9101 MASH Haque 2102 Masih Muhith Haque & Co. 14103 Masud Altaf & Co. 2
Sl. # Name of Firm Total104 Mijan Rahman Bhuiyan & Co. 8105 Mizan Islam & Co. 2106 Mohammad Ata Karim & Co. 0107 Mohammed Quddus & Co. 5108 Mohibullah & Co. 0109 Mollah Quadir Yusuf & Co. 28110 Muhammad Shaheedullah & Co. 46111 N Chakraborty & Co. 11112 N K Roy & Co. 50113 N L Roy & Co. 2114 Nurul Azim & Co. 18115 Nurul Faruk Hasan & Co. 36116 OCTOKHAN 1117 Pinaki & Company 45118 Quasem Abul & Co. 3119 Rahman Anis & Co. 2120 Rahman Kashem & Co. 49121 Rahman Mostafa Alam & Co. 3122 Rahman Mustafiz Haq & Co. 3123 Rahma Rahman Huq 42124 Rahman Thakur & Co. 6125 Razzaque & Co. 11126 S F Ahmed & Co. 171127 S H Khan & Co. 14128 S K Barua & Co. 22129 S M Zakaria & Co. 1130 S N Meahji & Co. 17131 Sadhan Das & Co. 10132 Saha Mazumder & Co. 137133 Sarwar Salamat & Co. 4134 Shafiq Basak & Co. 3135 Shafiq Mizan Rahman & Co. 14136 Shah Alam & Co. 6137 Shaha & Co. 6138 Shahadat Rashid & Co. 37139 S Q Khan & Co. 0140 S R Bose & Co. 7141 S R Islam & Co. 18142 Shiraz Khan Basak & Co. 6143 Syful Shamsul Alam & Co. 23144 T Hussain & Co. 12145 Tofayel Ahmed & Co. 7146 Toha Anwar Rouf & Co. 16147 Toha Khan Zaman & Co. 16148 Zahir Ahmed & Co. 68149 ZAHUR & MOSTAFIZ 0150 Zaman Hoque & Co. 15151 Zoha Zaman Kabir Rashid & Co. 33
Total 3466
Library Attendance December 2009Total Attendance was 3466 from the Chartered Accountants firms in the ICAB Central Library during the month of December 2009. The
list is given below:
ICAB News Bulletin No. 242
December - 200919
ICAB Awards Recognition to the Brilliant Children of its Employees
Children of employees-ICAB take a photograph with ICAB Members at the end of the ceremony.
A section of Audience of Award giving ceremony for the brilliant children of the ICAB employees.
It was a memorable event for thechildren of employees of the Institute ofChartered Accountants of Bangladesh
(ICAB) to get such recognition from ICABfor their brilliant result. On 26 December2009 ICAB organized a award givingceremony for the brilliant children of theemployees, ICAB. ICAB has beenorganizing this kind of ceremony from 2004for the brilliant children of members. But forthe first time ICAB starts this programmefrom 2009.Mr. N I Chowdhury FCA, Secretary, ICABin his welcome address said that after 38years of ICAB’s establishment this kind ofprogramme was organized. He thankedPresident, Vice-Presidents, CouncilMembers of ICAB for their honestcooperation for this. Mr. Chowdhury saidthat the main objective of this ceremony wasto inspire the children to built up future. Healso added that C.A was most rightfulprofession which could make the futurebright. Mr. Nasir Uddin Ahmed FCA, President,ICAB was the Chief Guest on the occasion.He said, “though it is a little programme butthe importance of this is not small. Thebrilliant children will obviously get moreinspiration in their every sphere ofexamination in future.” He said that therewas no alternative to be industrious. It wouldmake a student success in life.Besides Mr. Md. Syful Islam FCA and Mr.
Md. Shahadat Hossain FCA, Vice Presidents,ICAB also spoke the occasion as SpecialGuests.The awardees are:Ms. Adiba Afzal Oishi for her brilliant resultin class five 2008 daughter of Mr. Md. AfzalHossain, Deputy Secretary (Exam), ICABand Mrs. Rokshana Parveen.Master Nazmul Haque Mazumder for hisbrilliant result in HSC examination 2009, sonof Mrs Khayrun Nahar, Sr. Librarian, ICABand Mr. Nurul Haque Mazumder.Master Prabal Debnath for his brilliant resultin HSC examination 2009, son of Mrs ManjuRani Debi, Course Administration, ICABand Dr. Paritosh Chandra Debnath.Master Md. Mohaiminul Islam his brilliantresult in SSC examination 2008, son of Mr.Iqbal Qasim, Sr. Assistant Secretary, ICAB
and Mrs. Shamsun Naher.Ms. Fatema Tuz-Zuhra for her brilliant resultin class five 2008, daughter of Mr. S MSekander, Sr. Assistant Secretary (Exam),ICAB and Mrs. Umme Hany Panna.Ms. Mahjabin Zannat Setu for her brilliantresult in class five 2009, daughter of Mr. Md.Mizanur Rahman, Computer Designer, ICABand Mrs. Fatema Begum Sumi.Master Md. Hasan Mahmud in his brilliantresult in SSC examination in 2009 andMaster Md. Sohrab Hossain in his brilliantresult in class five in 2008 sons of Mr. Md.Jashim Uddin, Dispatch Assistant, ICAB andMrs. Tasnur Begum.Master Noor Hossain Rony for his brilliantresult in class five 2009 son of Mr. NoorAhmed, Messenger boy, ICAB and MrsAleya Begum.
ICAB News Bulletin No. 242
December - 200920
Chittagong: HBFC Building (3rd Floor), 1/D, Agrabad Com. Area, Chittagong, Bangladesh Tel: 880-31-724674 Fax: 880-31-813579 E-mail: [email protected] Chapter: Suite One, 2 Haydons Road, London SW19 1HL, United Kingdom Tel: 44-020 8544 1234 Fax: 44-020-8544 1400 E-mail:[email protected] American Chapter: 5 Massey Square, Suite-2519, Toronto, Ontario M4C 5L6, Canada Tel: 416-686 6760 Fax: 416-916 1091 E-mail: [email protected]
Published by the Editorial Board of the Council, The Institute of Chartered Accountants of Bangladesh (ICAB)100 Kazi Nazrul Islam Avenue, Dhaka 1215; Tel. 9117521, 9112672, 9115340 , 9137847 Fax: 880-02-8119399 E-mail: [email protected] Website: www.icab.org.bd
A Memorable Moment for the Brilliant Children of ICAB Employees